- Indian equities opened higher despite weak global cues.
- Most Asian markets declined; West Asia tensions escalated.
- US-Iran escalation drove crude oil prices modestly higher.
Indian equity benchmarks are expected to open on a positive note on Thursday, even as weak global cues and renewed geopolitical tensions in West Asia keep investors on edge.
The BSE Sensex climbed more than 150 points, inching closer to 77,400, while the NSE Nifty50 crossed 24,100, rising nearly 50 points, as of 9:15 AM.
GIFT Nifty Signals Positive Opening
The GIFT Nifty pointed to a firm start for Indian equities despite weakness across several Asian markets.
The futures contract was trading at 24,112, up 44 points, indicating that the Nifty50 could begin the session in positive territory. Investors, however, are expected to remain cautious as geopolitical uncertainties and global market volatility continue to influence sentiment.
In the pre-open session at around 9:06 AM, the Sensex was trading 179.23 points, or 0.23 per cent, higher at 77,364.66, while the Nifty gained 55.65 points, or 0.23 per cent, to 24,134.15.
Although domestic benchmarks signalled early strength, global developments are likely to dictate market direction through the trading session.
Asian Markets Slide On Chip Sell-Off And Geopolitical Risks
Most equity markets across the Asia-Pacific region traded lower on Thursday, weighed down by losses in technology stocks and fresh concerns over the situation in West Asia.
Japan’s Nikkei 225 declined more than 3 per cent, while South Korea’s Kospi fell sharply by over 7 per cent in early trade. The weakness followed an overnight sell-off in global semiconductor stocks, coupled with heightened geopolitical risks.
The decline in regional markets reflects growing investor caution amid uncertainty surrounding both the technology sector and global geopolitical developments.
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Fresh US-Iran Escalation Keeps Markets On Edge
Geopolitical tensions intensified after the United States reportedly carried out fresh military strikes following Iran’s attack on tankers transiting the Strait of Hormuz.
The latest developments have revived concerns over the security of one of the world’s most important energy corridors, with investors closely monitoring the possibility of further escalation and its potential impact on global trade and energy supplies.
Crude Oil Edges Higher
Oil prices moved modestly higher in early trade as markets reacted to the renewed tensions in the Gulf region.
The Brent crude July futures contract rose around 0.6 per cent to trade near $85.5 per barrel. While prices remain well below the highs seen earlier this year, geopolitical risks continue to keep energy markets volatile.
For India, sustained increases in crude oil prices could raise inflationary pressures and increase the country’s import bill, making oil movements a key factor for domestic equities.
Wall Street Ends In Positive Territory
US equities closed higher overnight, providing some support to investor sentiment.
The Dow Jones Industrial Average gained 0.29 per cent, while the S&P 500 advanced 0.38 per cent. The technology-heavy Nasdaq Composite outperformed, ending the session 0.62 per cent higher.
Despite the gains, investors remain cautious as geopolitical developments continue to overshadow broader market optimism.
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